It is known to market liquids, such as beer or other beverages, in containers wherein the liquid is maintained under relatively high pressure. It is desirable to be able to permit the partial dispensing of the liquids at a relatively low pressure while maintaining the relatively high pressure in the container. This is accomplished by a flow regulating apparatus which reduces the pressure on the liquid prior to its being dispensed so as to prevent undue foaming of the liquid. In U.S. Pat. Nos. 2,899,170; 2,924,238; 3,863,673; 4,078,578 and 4,739,901, there are disclosed several differing types of liquid dispensing apparatuses for reducing the pressure on the liquid so that it can be properly dispensed from a container. In U.S. Pat. No. 4,353,488, there is disclosed means for opening a container so that the material confined therein may be dispensed. In U.S. Pat. No. 4,867,348, there is disclosed a disposable container for marketing beer in quantities equal to two hundred and eighty-eight liquid ounces. One problem associated with this concept is the necessity for an economical dispensing apparatus for dispensing the beer at the right pressure and flow rate. This invention provides economical flow control apparatus so that the beer being dispensed from a dispensing valve member is at the right pressure, flow rate and foam height.